Science-based targets are emissions reduction goals that are in line with the latest climate science. The SBTi sets standards, promotes methods for establishing such targets and independently assesses and validates them.
If you want your company to be a part of the movement towards reducing carbon emissions, greenly can help you get started with a carbon footprint assessment. We can also guide your company through developing a strategy for setting an SBTi-compliant target.
How did the SBTi start?
The SBTi is a global coalition that promotes science-based targets for businesses. It was formed by CDP, the World Resources Institute (WRI), and the WWF to encourage companies to use science-based targets to reduce greenhouse gas emissions. The SBTi offers resources for companies that are interested in setting science-based goals and provides an opportunity to apply for validation of these targets.
The SBTi has been around for only eight years, but in that time it has already made a significant impact on climate change. The organization aims to accelerate corporate action by enabling businesses to set ambitious and robust science-based greenhouse gas reduction targets in line with climate science. This approach drives innovation, strengthens investor confidence, and improves company competitiveness. It also helps to reduce regulatory uncertainty and build resilience in a changing environment.
What is the main goal of the SBTi?
The main goal of the SBTi is to help companies set and meet ambitious greenhouse gas reduction targets that align with climate science. These are essential to ensuring that the transformational actions businesses are taking today can reduce emissions enough to limit future warming to 1.5degC.
To become a part of the SBTi, companies must first sign up through the SBTi commitment letter. This recognition shows that a company has committed to the process of developing targets that will be consistent with 1.5degC. Then, they must develop their targets according to the SBTi criteria and apply for validation.
There are also sector-specific pathways that companies can follow. These help them to set and reach their science-based net-zero goals in a way that is best for their business model.
How does applying to be a part of the SBTi work?
The SBTi cultivates an experienced team of experts that harvest new scientific data on a constant basis. This enables companies to get updated targets as soon as possible in line with these new findings.
Once a company has submitted their new targets, they must be validated in accordance with the SBTi’s criteria. Once approved, these targets are shared on the SBTi website and partner sites such as CDP and We Mean Business.
The next step is to set a plan for future-proofing growth by specifying how much and how quickly a company needs to reduce their environmental footprint. By taking the necessary steps to ensure their goals are aligned with climate science, companies can set themselves up for a better future while maintaining the confidence of their stakeholders. In order to get the best experience, click on this link for more information about SBTi.
What are the benefits of joining the SBTi?
The main benefit of joining the SBTi is gaining access to science-based criteria that will help your company set emission reduction targets. These goals will be aligned with climate science and work towards a global goal of limiting temperature rises to 1.5-2 degrees Celsius.
In addition, businesses that are part of the SBTi have the opportunity to join a network of other companies that are also working towards a net-zero future. This will allow you to share ideas, best practices and strategies for reducing emissions with other organizations that are committed to a net-zero future.
Whether you are already working on a carbon footprint or in the process of creating an emissions reduction plan, it is essential to consider the impacts of your activities throughout your entire value chain. Using science-based data can inspire new ideas and tactics for eliminating emissions that you might not have thought of otherwise.
What about Greenly?
As the world faces the imminent threat of global warming, companies are taking bold action to mitigate climate change. One of the most important ways they can do this is by setting science-based targets, or SBTs.
SBTs are emission reduction goals that are aligned with the level of cuts that scientists say is necessary to avoid a disastrous 1.5-2 degrees Celsius temperature rise. The SBTi, a collaboration between CDP, the United Nations Global Compact, and WRI, is working to drive ambitious climate action by helping companies set science-based targets.
Greenly.earth is a carbon emissions management platform for SMEs that recently raised $23 million in a Series A round. The startup competes with similar carbon footprinting companies such as Planetly, Plan A, and Normative. Greenly also features functions that help companies meet their compliance and sustainability obligations.
The go-to carbon accounting platform for your business
As businesses adopt more severe reduction objectives to fight climate change, controlling their carbon footprint and harmful materials is becoming essential. This leads to the need for a more streamlined approach through the use of software that can automatically calculate and manage emissions and inventory totals.
A carbon accounting tool is an online service that helps businesses understand and quantify their greenhouse gasses and energy consumption in order to begin strategically regulating them. As governments around the world mandate and encourage climate impact disclosure, it becomes increasingly important for companies to be able to reliably report their data.
The best carbon accounting tools will help businesses reduce their footprint and achieve their goal of net zero emissions. They will also offer a range of services such as reporting, benchmarking, and energy consumption tracking. These tools will allow businesses to collect and analyze the data they need and provide them with a clear roadmap towards reaching their goals.
One example of a popular carbon accounting tool is Watershed, which provides a platform to help businesses measure, report and reduce their carbon footprint. This tool provides a range of features including vendor data management, investor-grade reporting, and customizable dashboards. This tool can be used by businesses of all sizes and is suitable for a variety of sectors.
Another popular carbon accounting tool is Ecologi Zero, which offers a more comprehensive set of services. The software is free and uses Xero data to enable users to see the direct impact of their emissions on a global scale. The software is particularly suited to small and medium-sized enterprises (SMEs) within the services sector but it is expanding its scope to make it more widely available.